Solana Price Gearing Up For New All Time High

$654M in Bitcoin Acquired by Spot ETFs in Just 3 Days

  • Solana Gearing Up For New All Time High

  • $654M in Bitcoin Acquired by Spot ETFs in Just 3 Days

  • Bitcoin ETF Inflow Snapshot

  • And more…

Market Data Prices as of 5:50am ET

Price (USD)

Change (24h)

Change (YTD)

Bitcoin (BTC)

$58,860

+0.28%

+45.88%

Ethereum (ETH)

$3,186

+1.80%

+47.64%

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SOLANA: GEARING UP FOR A NEW ATH? 🔜

Solana's been grabbing attention left and right, yet we believe its current price doesn’t fully capture its potential.

solana price gearing up for all time high

Here’s why we’re bullish:

1/ Solana Economic Value Skyrockets

Solana just reached an all-time high (ATH) in monthly economic value.

Economic value is the total revenue a blockchain generates from transaction fees and the Maximum Extractable Value (MEV) validators collect.

In June alone, Solana pulled in $91.3M!

For the year, they’ve amassed an incredible $1.1B, setting new records. 🐡

That’s some serious cash flow!

2/ Daily Active Addresses Soar

Solana is leading the pack with over 1.6M active addresses in June.

New users are flocking to the network, and long-time users are staying engaged, keeping the activity lively and steady 💪

3/ Breakout Signal

Solana’s price chart showed a descending triangle, which usually indicates a downtrend. But here’s the kicker: Solana broke above it, suggesting a possible reversal. 🚀

solana price gearing up for all time highh

Source: Trading View

4/ $SOL Volatility Game

$SOL thrives on volatility 🥛🥣 like a friend who loves chaos.

When $SOL volatility is down, its price tends to fall 📉

When $SOL volatility is up, its price tends to rise 🏀

Each time volatility hits 50, $SOL starts a green candle rally.

And guess what just happened...

  • $SOL Volatility hit 50 in September 2023 → $SOL surged 521% in 3 months

  • $SOL Volatility hit 50 in February 2023 → $SOL surged 78% in 3 months

  • $SOL Volatility hit 50 in June 2024 → 👀

Solana’s been pumping up with major upgrades: swQoS, ZK compression, Blinks, Colosseum, and ETF Applications.

Thanks to the surge in users and activity, they’ve earned over $80M in monthly revenue for Q2. 🤯

Despite these bullish indicators, $SOL’s price is still cruising in the slow lane. 🤔

Combine all this bullish momentum with a volatile market, and you’ve got a Coke bottle waiting to explode when the market cap comes off.

Expect $SOL to rocket to the moon when that happens. 🚀

$654M IN BITCOIN ACQUIRED BY SPOT ETFS IN JUST 3 DAYS

Bitcoin investors have been enthusiastic about Bitcoin ETFs since July 5, pouring more than $650 million into United States-listed spot Bitcoin exchange-traded funds (ETFs) over the last three trading days.

On July 9, Bitcoin ETFs experienced another strong day of net inflows. BlackRock’s Bitcoin ETF, the iShares Bitcoin Trust, saw $121 million in inflows, while Fidelity’s Wise Origin Bitcoin Fund attracted $91 million.

Overall, the total net inflows for all US-based spot Bitcoin ETFs on July 9 amounted to $216.4 million, or 3,760 Bitcoin, according to Farside Investors.

This surge in investments includes $294.8 million on July 8 and $143.1 million on July 5, summing up to $654 million over the past three trading days.

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BITCOIN ETF INFLOW SNAPSHOT

Fidelity's Momentum Continues Fidelity continued its impressive performance yesterday, recording inflows of 1,019 BTC, equivalent to $57.8 million. This week alone, their total inflows have surpassed 5,000 BTC.

🥈 Franklin Templeton Franklin Templeton made a striking move, unexpectedly achieving their third highest daily inflow ever with 550 BTC ($31.7 million).

🥉 BlackRock BlackRock slipped to third place on the leaderboard, bringing in 387 BTC ($22 million).

Highlighting ETF trends, Eric Balchunas shared an astonishing fact: three-quarters of all ETFs launched last year still have less than $121 million in assets—an amount IBIT managed to attract in just one day.

🧮 Overall Performance The market saw strong overall performance, with net inflows totaling 2,240 BTC ($127 million). Ark ($5.7 million), Bitwise ($4.7 million), and Invesco ($9.5 million) also contributed significantly.

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